New Developments In Old Stratas: B.C. Proposes To Lower Threshold For Strata Termination

The British Columbia government recently introduced a bill that will, if passed, make it easier to cancel a strata plan and wind up a strata corporation under the Strata Property Act (Act). Currently, a unanimous resolution is required for the owners to cancel a strata plan and collectively become tenants in common of the strata lands or to appoint a liquidator to wind up the strata corporation and dispose of its assets. If passed, the bill will lower that threshold to a resolution passed by an 80 per cent vote.

For strata plans with five or more strata lots, the proposed amendments will require the strata to obtain an order from the Supreme Court of British Columbia confirming the owners' resolution. In deciding whether to make such an order, the court will be required to consider, amongst other things, the best interests of the owners and the probability and extent of significant unfairness to one or more owners or holders of registered charges. These